Daytonabrands, Inc. Announces Letter of Intent With ArmorCoat: Projects $30 Million in Revenues From Business Unit
IRVINE, CA and DAYTONA BEACH, FL, May 07, 2007 (MARKET WIRE via COMTEX) -- Daytonabrands, Inc. (PINKSHEETS: DYTB), a manufacturer and marketer of innovative consumer products for the automobile and home, announced today it has completed a Letter of Intent with ArmorCoat, a revolutionary vehicle paint protectant.
ArmorCoat is a proprietary product and method of applying a visibly undetectable clear coat hard surface to a vehicle's paint finish. It permanently protects the vehicle paint finish from normal wear and tear, stone chips, bugs and other traditional damaging elements. This revolutionary product can be applied to any paint color and dries ready to roll in 20 minutes.
Included in this transaction is an existing company in the business of applying this technology to vehicles with its primary customer being automotive new car dealerships. Existing business and pre-interested dealerships clearly account for a run rate of in excess of $30,000,000 in revenues.
"This is another major step for Daytonabrands. We are constantly looking for channels for growth. Our research of this product category indicates that ArmorCoat is far superior and competitively priced to any product available. This combined with our marketing plans, NASCAR BUSCH Series Jay Robinson Racing sponsorship, and professional relationships with automotive dealerships creates a huge opportunity," noted Scott Harkness of Daytonabrands.
Daytonabrands products have been sold through Ace Hardware, Costco, Savon, Albertsons, Walgreens, Checker, Kragen, Advance Auto, Schucks, Autozone, AJ Prindle, Access Garage Doors, Silvo, Pantograms, Herrington, Egg Shops, GarageToys.com, garagedepot.com, Garage Doors and More, Car Care, Logo Advantage, Marwest, Meban Tuire and Auto, Ford Lincoln, 9Dollar Ads, Olson Wholesale, Automotive Parts Network, B7L Distribution, Brandsmall, Harbor Freight, Electronic Express, Lillian Vernon, numerous websites, independent retailers and warehouse distributors.
About Daytonabrands
Daytonabrands is a manufacturer and marketer of innovative automotive products. The company has reunited the "best in the industry" automotive marketing and sales "powerhouse team" comprised of former Armor All Corporation senior executives, including its founder, Alan Rypinski. For more information please review the company's website at: (www.daytonabrands.com). |
